The company had registered a net loss of Rs 2,583.38 crore in the same quarter of the preceding fiscal.
The Finance Ministry may hold a round of discussion with some public sector banks regarding the second round of mergers in the banking space
Net Interest Income (NII) is expected to increase by 7.8 percent Y-o-Y (up 10.2 percent Q-o-Q) to Rs. 2,747.4 crore, according to Sharekhan.
Nifty PSU Bank added 1.5 percent in this afternoon session led by Syndicate Bank and Union Bank of India which jumped 3.5 percent each followed by Bank of Baroda, Canara Bank, Indian Bank and State Bank of India.
The market breadth was in favour of the declines with 428 stocks advancing while 1215 declined and 367 remained unchanged. On the other hand, in the BSE, 645 stocks advanced and 1542 declined and 94 remained unchanged.
The PSU banking index cracked 2.87 percent after investigation deepened in the PNB fraud case. The largest contributor to the index fall was Bank of India which plunged 6.46 percent, hitting fresh 52-week low. Syndicate Bank ended lower by 5 percent.
The market breadth was in favour of the declines with 410 stocks advancing in while 1176 stocks declined and 435 remained unchanged. On the other hand, 605 stocks advanced on BSE with 1411 stocks declining and 104 remained unchanged.
The stocks that hit new 52-week high on NSE included KEC International and Polaris Consulting among others while Dena Bank, Punjab National Bank and Syndicate Bank were some of the stocks that hit fresh 52-week low.
The market breadth was in favour of the declines on Monday morning with 120 stocks advancing while 1532 stocks declined and 382 stocks remained unchanged. On the BSE, 266 stocks advanced while 1960 stocks declined and 79 remained unchanged.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy IGL and sell Union Bank and Idea Cellular.
Lankesh, 55, was an outspoken critic of right-wing extremism.
The new rate will be applicable from August 21.
Reserve Bank of India (RBI) has levied penalties of Rs 2 crore and Rs 1 crore on the bank in two separate incidents of non-compliances.
Mitessh Thakkar of miteshthacker.com is of the view that one may short Tata Motors and buy Bosch.
Mitessh Thakkar of miteshthacker.comn suggests buying State Bank of India and Union Bank of India.
From interest rate reduction on home loans to being charged for ATM withdrawal for wallet and no-frills account users to capital raising and merger talk of banks and some smaller public sector bank results where bad loans continued to grow, all happened in the second week of May.
Ashwani Gujral of ashwanigujral.com recommends buying Axis Bank, Bharat Financial, Delta Corp and PSU banks.
Banks, pharma companies and a telecom tower company are on the radar of analysts today.
CA Rudramurthy BV, Research Head at Vachana Investments suggests buying Oriental Bank of Commerce, Union Bank and Indiabulls Housing Finance.
Rajat Bose of rajatkbose.com is of the view that Indian Overseas Bank may test Rs 32.70 while Union Bank may hit Rs 195.
Mitessh Thakkar of miteshthacker.com suggests buying IDBI Bank, Bank of India, Union Bank on minor intraday dips. "One can also buy Avenue Supermarts," he adds.